Blockchain News 16 January 2018

Mark Cuban’s Dallas Mavericks to accept Bitcoin beginning next season

The Dallas Mavericks, the U.S. basketball team, will begin accepting cryptocurrency payments during their next season, according to owner and investor Mark Cuban.

Cuban was asked about the possibility of paying for tickets with cryptocurrency on Twitter earlier today, to which he replied: “Next season.”

He explained: “We will be adding a crypto payment ability for next season. We will accept BTC… We will also look at accepting tokens from companies we have traditional business relationships with as a way to expand our customer base.” he told CoinDesk.

San Diego County adds 22 new Bitcoin ATMs in 2017

San Diego County now has more physical locations to buy bitcoin, a digital currency rising rapidly in price.

San Diego County went from five machines in 2016 to 27 in 2017. There are also three bitcoin ATMs in operation across the border in Tijuana.

Potential investors in the digital currency now have increasing opportunities to buy it at brick-and-mortar locations with bitcoin ATMs in coffee shops, bodegas and bars.

An executive director from Goldman Sachs has left the US banking powerhouse to join a UK cryptocurrency broker, marking another step in the professionalisation of the fledgling sector.

Phillip Gillespie, who joined Goldman in 2015, is to become chief executive of B2C2’s cryptocurrency operations in Japan. Gillespie will start at the firm on January 29.

Gillespie was a foreign exchange algorithmic trader at Goldman and was previously an FX voice and systematic trader at Barclays and JPMorgan.

Security Camera Crew now accepts Bitcoin

Security Camera Crew, one of the most popular security camera and surveillance installation companies in California, announced today that it now accepts digital currency- Bitcoin – along with the usual Visa and MasterCard as part of its payment system.

The Security Camera Crew was specifically established with the primary aim of offering high quality, affordable and flexible solutions to its esteemed customers scattered all over different cities and neighborhoods in California, to meet their security needs, be it an office building or a residential home or apartment.

China is escalating its clampdown on cryptocurrency trading, targeting online platforms and mobile apps that offer exchange-like services, according to people familiar with the matter.

While authorities banned cryptocurrency exchanges last year, they’ve recently noted an uptick in activity on alternative venues. The government plans to block domestic access to homegrown and offshore platforms that enable centralized trading, the people said, without being more specific about how policy makers define such platforms.

Authorities will also target individuals and companies that provide market-making, settlement and clearing services for centralized trading, the people said, asking not to be named because the information is private. Small peer-to-peer transactions aren’t being targeted, they said.

Luno cryptocurrency exchange’s bank account in Malaysia has been frozen

Luno, a global cryptocurrency exchange based in London, said today that its bank account in Malaysia has been frozen by the Inland Revenue Board, pending an investigation relating to tax matters.

The account is held under the name of its local entity, BitX Malaysia.

“As part of this, IRB has requested that we provide them with information on all our Malaysian customers: identification, deposits/withdrawals, and transactions.

“We are working closely with the IRB… We will only provide personal information where we are legally required to do so” Luno said in a statement emailed to theedgemarkets.com.

“…meanwhile, you (Luno customers) can still buy, sell, send and receive digital currencies… All your funds — local and digital currencies — remain safe with Luno and all other services remain unaffected,” it added.

South Korean Gov’t: News about cryptocurrency exchange closures were only rumors

The South Korean government today officially put to rest the recent rumors it plans to close all bitcoin and cryptocurrency exchanges in the country.

However in announcing its decision, it warned investors to trade in digital assets at their own risk, and reserved the right to “strictly deal with” individual exchanges if they engaged in illegal activity.

Metropolitan Bank Holding Corp, which is used by cryptocurrency companies and investment firms for wire transfers and deposits, has ceased all cryptocurrency-related international wires effective immediately.

A Metropolitan customer confirmed that his investment firm was notified on Thursday morning that the bank was “ceasing all international crypto-related wire transfers to and from” it effective immediately. The reason for the shutdown, according to the customer, was because the bank could not verify the compliance of international wire transfers for cryptocurrency accounts. The move is alleged to be a response to an incident of international fraud associated with one of the bank’s clients.

Digital currency wallet Coinbase is among the companies that use Metropolitan for wire transfers, deposits, and its Shift bitcoin debit card.

France’s finance minister calls for new Bitcoin regulation

France’s finance minister says he wants new regulation targeted at virtual currencies, to stop them from being used for tax evasion, financing terrorism and other crime.

Bruno Le Maire said in a sweeping economic speech Monday that he has ordered a former central bank chief to draft potential new rules, warning against the “risks of speculation and possible financial manipulation” linked to bitcoin and other such currencies.

Le Maire also said President Emmanuel Macron’s government will “not cede anything” as it presses internet giants to stop using tax havens, and wants Europe to be more aggressive to compete with the U.S. and China.